Wealthquest Corp Invests $18.58 Million in South Bow Corporation (NYSE:SOBO)

Wealthquest Corp purchased a new stake in South Bow Corporation (NYSE:SOBO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 728,070 shares of the company's stock, valued at approximately $18,580,000. South Bow accounts for approximately 1.8% of Wealthquest Corp's portfolio, making the stock its 10th biggest holding. Wealthquest Corp owned 0.35% of South Bow as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC purchased a new position in shares of South Bow during the fourth quarter worth approximately $461,249,000. Capital International Investors purchased a new stake in South Bow during the 4th quarter worth about $315,469,000. Price T Rowe Associates Inc. MD purchased a new stake in South Bow in the 4th quarter valued at about $290,786,000. Vanguard Group Inc. acquired a new position in shares of South Bow in the 4th quarter valued at about $206,467,000. Finally, Bank of Montreal Can acquired a new position in shares of South Bow in the 4th quarter valued at about $126,068,000.

South Bow Stock Performance

SOBO stock traded up $0.07 during midday trading on Friday, reaching $25.95. 6,119,596 shares of the company's stock traded hands, compared to its average volume of 903,588. The company has a 50-day moving average price of $25.81 and a two-hundred day moving average price of $25.01. The firm has a market capitalization of $5.40 billion and a PE ratio of 14.03. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.20 and a current ratio of 1.29. South Bow Corporation has a 52 week low of $21.16 and a 52 week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $498.00 million during the quarter, compared to the consensus estimate of $527.00 million. South Bow's revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that South Bow Corporation will post 1.74 EPS for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 7.71%. South Bow's dividend payout ratio (DPR) is 108.11%.

Analyst Ratings Changes

A number of equities analysts have issued reports on SOBO shares. JPMorgan Chase & Co. assumed coverage on South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 target price on the stock. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price for the company. in a report on Friday, March 7th. National Bankshares increased their price objective on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research note on Friday, March 7th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $38.00 price objective on shares of South Bow in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $28.60.

South Bow Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.